Ennis (NYSE:EBF) Stock Price Down 8% Following Weak Earnings
by Danessa Lincoln · The Markets DailyEnnis, Inc. (NYSE:EBF – Get Free Report) shares fell 8% on Monday following a dissappointing earnings announcement. The stock traded as low as $19.55 and last traded at $19.9450. 108,783 shares changed hands during trading, a decline of 36% from the average session volume of 169,655 shares. The stock had previously closed at $21.67.
The industrial products company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.03). The firm had revenue of $96.36 million for the quarter, compared to the consensus estimate of $95.10 million. Ennis had a net margin of 11.01% and a return on equity of 14.11%.
Ennis Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, May 4th. Shareholders of record on Monday, April 13th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date is Monday, April 13th. Ennis’s payout ratio is currently 60.24%.
Analyst Ratings Changes
A number of analysts have issued reports on EBF shares. Weiss Ratings upgraded shares of Ennis from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Wall Street Zen upgraded shares of Ennis from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.
Check Out Our Latest Report on EBF
Hedge Funds Weigh In On Ennis
A number of institutional investors and hedge funds have recently made changes to their positions in EBF. State of Alaska Department of Revenue purchased a new position in shares of Ennis during the 3rd quarter worth about $25,000. EverSource Wealth Advisors LLC boosted its stake in shares of Ennis by 1,037.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,524 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 1,390 shares during the period. WealthCollab LLC boosted its stake in shares of Ennis by 180.9% during the 4th quarter. WealthCollab LLC now owns 1,809 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 1,165 shares during the period. BNP Paribas Financial Markets boosted its stake in shares of Ennis by 56.8% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,456 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 890 shares during the period. Finally, Kestra Advisory Services LLC purchased a new position in shares of Ennis during the 4th quarter worth about $51,000. 74.33% of the stock is owned by hedge funds and other institutional investors.
Ennis Trading Down 8.0%
The business’s 50 day moving average is $21.18 and its 200 day moving average is $19.07. The stock has a market capitalization of $504.47 million, a PE ratio of 12.02 and a beta of 0.31.
Ennis Company Profile
Ennis, Inc (NYSE: EBF) is a provider of print and related products and services designed to meet the needs of businesses and organizations across a variety of industries. Headquartered in Dallas, Texas, Ennis offers business forms, checks, manuals, labels, promotional signage and specialty packaging. The company also delivers e-commerce and software solutions that enable customers to manage orders, customize print jobs and streamline supply-chain processes through its integrated online platform.
Ennis’s core product offerings include continuous business forms, laser checks and security-enhanced documents, as well as graphic communications materials such as brochures, catalogs and direct-mail collateral.